PORT TOWNSEND — Intellicheck Mobilisa, Inc., a Port Townsend-based company that develops and markets wireless technology and identity systems, reports that third-quarter revenue ending Sept. 30 increased by 6 percent over the same period in 2008.
Revenues for the third quarter increased $3.75 million, compared to $3.55 million for the third-quarter of the previous year.
“We are proud to post our second quarter in a row of profitability, our second best quarter of revenue to date, as well as year-to-date profitability,” said Nelson Ludlow, CEO of Intellicheck Mobilisa, which is based at Glen Cove Industrial Park, south of Port Townsend.
“Our sales pipeline has never been stronger, and we are already seeing the results.”
Adjusted earnings before interest, taxes, depreciation and amortization for the third quarter decreased to $517,901, compared to $688,608 in the third quarter of 2008.
Net income down
Net income decreased to $109,803 for the three months ended Sept. 30, as compared to $166,634 for the same quarter in 2008.
The company’s backlog, which represents noncancelable sales orders for products not yet shipped and services to be performed, was about $7.2 million at the end of the third quarter, compared to $9.4 million for that quarter last year.
For the nine-month period ending Sept. 30, revenues were $9.8 million, compared to revenues of $7.4 million reported in the same period of the prior year.
Adjusted earnings before interest, taxes, depreciation and amortization for the first nine months of 2009 increased to $1.2 million, compared to $744,597 in the first nine months of 2008.
Intellicheck Mobilisa had net income of $48,056 in the first nine months of 2009, compared to a net loss of $472,087 in the same period of 2008.
Fastest growing
Deloitte LLP, which delivers services in audit, tax, consulting and financial advisory in nearly 140 countries, has ranked Intellicheck Mobilisa, which employs 60 people, among the top 500 fastest growing technology firms in North America.
Deloitte LLP, which delivers services in audit, tax, consulting and financial advisory in nearly 140 countries, ranked Intellicheck Mobilisa 170th on its Technology Fast 500 list last month.
The company makes an identification card access control system used at more than 70 military and federal locations, and ID-Check, which reads, analyzes, and verifies encoded data in magnetic stripes and barcodes on government-issue identification cards from U.S. and Canadian jurisdictions for the financial, hospitality and retail markets.
Intellicheck Mobilisa in September announced the acquisition of Minnesota-based Positive Access Corp. for $2.225 million.
The acquisition came about a year and a half after Ludlow’s founding company, Mobilisa, merged with Intelli-Check, absorbing 25 of the former Woodbury, N.Y., company’s staff into Mobilisa’s headquarters at Glen Cove Industrial Park on Otto Street in Port Townsend.
Ludlow founded the company in Port Townsend in 2001 with his wife, Bonnie, the company’s senior vice president.
